How Tech Firms Can Grow Globally, Faster Than Other Businesses

 How Tech Firms Can Grow Globally, Faster Than Other Businesses

How Tech Firms Can Grow Globally, Faster Than Other Businesses

“If you are starting out right at the early stage, don’t think that TAX comes later — think about this now. The structure you put in place now impacts everything from your investment, to your operating models, to your sales structure.”  – Kevin Smith, Global Co-Chair of Emerging Giants Centre of Excellence for Private Enterprise, KPMG

The tech industry has experienced substantial growth over the last two years. Many tech firms are entering new markets and embracing a distributed global workforce during the pandemic. But as the Covid-19 crisis eases, is it the right time for tech companies to continue to invest in global growth? 

That was the topic of discussion at the PANGEO panel, “How Tech Firms Can Grow Globally Faster Than Other Businesses,” moderated by Mark Hedley, Vice President of Talent Recruiting, Globalization Partners, with speakers Russ Shaw CBE, Founder, Tech London Advocates & Global Tech Advocates; Kevin Smith, Global Co-Chair of Emerging Giants Centre of Excellence for Private Enterprise, KPMG; and Janet Coyle, Managing Director Business, London & Partners. 

The three business leaders shared their expert insights from their fruitful careers in tech thus far, and their learnings on how to scale tech companies at scale faster than other companies.

Continue investing and planning for global growth — it’s integral

Companies are seeing tremendous growth in many markets around the world as they come out of the pandemic consumers are continuing to buy products and services. As a matter of fact, industries around the world are seeing shortages of goods and services because of the major uptake in demand. 

Some of the reasons as to why companies should continue to invest and plan for global growth include: 

  1. Companies have learned a great deal since the onset of the pandemic, particularly in areas such as global remote workforce management. This in itself is a huge challenge for international growth and, if mastered, makes the transition to new markets that much easier. 
  2. Governments are also very eager for companies to expand into their countries. For example, in the UK alone, “there is something called the global talent visa. The government has also announced that it’s introducing a scale-up visa to help our businesses to scale here with talent from overseas,” said Shaw. 
  3. There are also many local, regional, and national governments encouraging companies to grow internationally by creating programs that help them enter new markets. 
How Tech Firms Can Grow Globally, Faster Than Other Businesses
How Tech Firms Can Grow Globally, Faster Than Other Businesses

Company resilience and adaptability — at the forefront of success

Scale-ups are currently surviving or thriving, but those tech companies that are doing particularly well in these challenging times have been creating and driving global remote teams that are resilient, agile, and can adapt to the various external business circumstances that companies have been faced with over the last 18 months. 

They key to encouraging teams and building a company that can survive harsh conditions requires “establishing operating models that are viewed almost like mission criticals — so if they do win that international contract, they are able to fulfill that contract, which is really important,” explained Coyle. 

“Making a decision to expand internationally is a very significant one, not to be taken lightly. Don’t do this on your own, use partners, use organizations that are out there that can help you in this space. Globalization Partners is a fantastic example of that.” – Russ Shaw CBE, Founder, Tech London Advocates & Global Tech Advocates

The war for tech talent — recruit based on a company culture fit

It’s pivotal that tech leaders are actively listening to individuals across their global teams, as well as their teams as a whole, to collectively understand how people are dealing with the current challenging environment. 

“Many tech leaders are now shifting in the way they recruit and are hiring for values and culture, as opposed to purely skills,” said Coyle. 

Tech leaders who hire purely for skills have found that employees lack the right culture fit, and misunderstand the company vision. Other tech companies are also using “buddy systems” to help recruit the right new talent buddies of potential new hires can walk them through the company values and culture, and become long-term points of contact for new talent. 

Collaboration and inclusion — critical for managing a successful remote global team

Almost overnight the role of recruitment teams has changed to community managers, as much as they are still HR professionals. Although onboarding tasks such as training have not posed big challenges for HR teams, mentoring, comradeship, and the concept of community have become more challenging to realize in a remote work setting. 

“Those watercooler moments — How do I get this done? How are you feeling? We can lose those sentiments in a virtual world. So I think a community manager now becomes much more important. We need to become better at the things we can do virtually, and find new ways of mentoring, comradeship, and community — people need a whole new level of support,” explained Smith. 

The war for talent is on, and the companies that get this part right in a remote work setting are going to win this battle. 

Learn more about Pangeo, The Largest Global Employment Conference in the World, here

Check out our Agenda, meet our Speakers, and our Sponsors

An event by Globalization Partners. Hire anyone, anytime, anywhere.

Succeed Faster.